Finance
Iowa's short sale in real estate occurs when:
AA property sells in less than 30 days
BThe lender agrees to accept less than the full mortgage balance as full satisfaction of the debt when the property sells for less than owed✓ Correct
CThe seller accepts less than their asking price to close quickly
DA property sells below assessed value
Explanation
A short sale requires lender approval; the lender agrees to accept the sale proceeds (less than the outstanding loan balance) as full or partial satisfaction of the debt. It is an alternative to foreclosure and requires lender approval of the sale terms.
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